As many as five Indian companies, including Tata Group firm Indian Hotels and footwear firm Bata India, have been named in the list of world’s 25 ‘unsung’ innovative companies by the BusinessWeek magazine.
The list, ‘The world’s 25 unsung innovative companies’, compiled by the magazine has firms that have failed to get a position on the list of world’s most innovative companies but are likely to become household names like Apple, Google in the next 10-20 years.
The other three Indian firms on the list are — Bajaj Holdings & Investment, Nadir Godrej-led Godrej Industries and private sector lender Yes Bank.
“Apple, Google, Toyota, and Microsoft — the corporations at the top of this year’s Most Innovative Companies ranking are household names the world over. But they wouldn’t have all been winners 10 or 20 years ago. The same may be true 10 or 20 years from now,” the magazine said.
The ‘unsung’ list is based on a Boston Consulting Group survey of senior executives across the world when asked to name an innovator others would not have thought of.
About Indian Hotels, which runs the luxury hotel chain of Taj Hotels & Resorts, the magazine said,
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“its slick and modern accommodations and attentive service can be attributed to a merit system that links employee pay to customer satisfaction ratings.
About the footwear retailer Bata India, the magazine said, “whether it be canvas sneakers, high heels, or rubber flip-flops, the products are known for their durability and Indian flair.”
Bajaj Holdings & Investment, formerly known as Bajaj Auto, operates through two arms — financial and investment services, while the other manufactures two-wheeled vehicles.
Another Indian firm Godrej Industries that makes and sells bulk chemicals and edible oils has also been named among the unsung list.